Endoscopes Market to witness Astonishing Growth, Observe latest Development and Precise Outlook 2023-2032

As per the report published by The Brainy Insights, the global endoscopes market is expected to grow from USD 15.8 Billion in 2021 to USD 32.1 Billion by 2030, at a CAGR of 8.2% during the forecast period 2022-2030. North America region emerged as the largest market for the global endoscopes market with a 42.2% share of the market revenue in 2021. North America currently dominates the endoscopes market due to increased expenses for better and improved healthcare facilities. While Asia-Pacific is expected to rise in the forecast period due to the rising geriatric population and an increasing number of people suffering from functional gastrointestinal disorders.

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The global endoscopes market is driven by the increasing prevalence of gastrointestinal and respiratory disorders, such as cancer, inflammatory bowel disease, and chronic obstructive pulmonary disease. The growing demand for minimally invasive surgeries is also contributing to the growth of the endoscopes market, as endoscopic procedures are less invasive and result in faster recovery times compared to traditional surgical procedures.

Other factors driving the growth of the endoscopes market include advancements in technology, such as high-definition imaging and 3D visualization, as well as the increasing availability of disposable endoscopes and accessories.

Leading companies in the industry include Artherx Inc., Boston Scientific Corporation, Conmed Corporation, Cook Medical, Olympus Corporation, Fujifilm Holding Corporation, Hoya Corporation, Covidien PLC., Johnson & Johnson, and Medtronic PLC. among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The product type segment is divided into disposable, flexible, and rigid. The flexible segment led the market with a market share of around 49.2% in 2021. The application segment is divided into Gastrointestinal (GI) endoscopy, laryngoscopy, obstetrics/gynecology endoscopy, laparoscopy, otoscopy, arthroscopy, bronchoscopy, urology endoscopy (cystoscopy), mediastinoscopy, and other applications. Over the forecast period, the Gastrointestinal (GI) endoscopy segment is expected to grow at the fastest CAGR of 10.2%. The end-user segment is divided into ambulatory surgical centers (ASCs), clinics, and hospitals. In 2021, the hospitals' segment dominated the market, accounting for around 53% of global revenue The rising incidences of diseases that require endoscopic diagnosis and treatment promotes the growth of flexible endoscopes. The rapidly aging population is suffering from respiratory disorders which require endoscopes for diagnosis and treatment. Respiratory conditions such as bronchitis, lung cancer, chronic obstructive pulmonary disease, etc. need flexible endoscopes to visualize, examine, and execute the problems inside the respiratory tract propelling the segment's growth.

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According to the American Cancer Society (ACS), most of the cancer patients in the world are above 65 years which clearly states that most chronic conditions are prevalent in the geriatric population. The rising incidences of chronic diseases with change in climate and rising population in some of the growing economies is also helping in the growth of the market. The compromised immune system of people these days because of negligence towards their food habits and rising global pollution is also leading to a large population of people suffering from chronic disorders such as respiratory tract infections (RTIs).

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